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The video game industry layoffs are a part of the broader tech industry layoffs that began in 2023; [17] many such layoffs have been attributed to artificial intelligence, [18] although increased interest rates, reduced demand from consumers and excessive hiring during the COVID-19 pandemic have also been cited as causes.
According to IDC, mobile game revenue shot up 32.8% to $99.9 billion in 2020, while digital PC and Mac game spending jumped 7.4% to 35.6 billion. Home console game spending, meanwhile, soared 33.9 ...
The video game industry is on the cusp of a turnaround after a tumultuous few years that saw sales come back down to earth from the lofty heights they reached during the early days of the pandemic.
On July 26, 2024, SAG-AFTRA (Screen Actors Guild – American Federation of Television and Radio Artists) initiated a labor strike involving the union’s voice actors and motion capture artists against American video game companies signed to the union’s Interactive Media Agreements over failed renegotiation terms of the contract that had expired in November 2022.
The video game industry is the tertiary and quaternary sectors of the entertainment industry that specialize in the development, marketing, distribution, monetization, and consumer feedback of video games. The industry encompasses dozens of job disciplines and thousands of jobs worldwide. [1] The video game industry has grown from niche to ...
In 2023, the state of the video game market is, “big and getting bigger.” So why, from a player perspective, does it feel like the industry is… shrinking? Consolidation, game delays and ...
The video game industry in general was boosted by the pandemic, since people under pandemic lockdowns were forced to stay home, with video games becoming a popular pastime. Total spending in video games grew to US$33.7 billion in the United States during the first nine months of 2020 compared to US$27.9 billion for the same period in 2019. [87]
Despite roughly 10,000 layoffs globally since the beginning of 2023, the video game business continues to grow. Experts discuss opportunities and how to make it in this competitive field.